S7 E10: The Extracted
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Cocoa Farmer Poverty
- Cocoa farmers receive about 7% of global chocolate industry sales, often earning less than $1 per day.
- This contrasts sharply with the large profits made by major chocolate manufacturers and retailers.
- For example, in 2023, Lindt, Mondelez, and Nestle together made almost $4 billion in profits.
- Hershey's profits reached $2 billion, and the Ferrero and Mars families' fortunes grew to $160 billion.
- Cocoa farmers lack the financial tools and negotiating power to protect themselves from market fluctuations and low prices.
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